Wells Fargo & Company MN raised its position in Shake Shack, Inc. (NYSE:SHAK) by 9.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,435 shares of the company’s stock after purchasing an additional 1,430 shares during the period. Wells Fargo & Company MN owned about 0.06% of Shake Shack worth $573,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC grew its holdings in Shake Shack by 5.8% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,318,882 shares of the company’s stock valued at $80,883,000 after purchasing an additional 128,075 shares during the last quarter. Vanguard Group Inc. grew its holdings in Shake Shack by 7.4% in the first quarter. Vanguard Group Inc. now owns 1,498,772 shares of the company’s stock valued at $50,059,000 after purchasing an additional 103,029 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Shake Shack by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 206,721 shares of the company’s stock valued at $7,210,000 after purchasing an additional 13,550 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Shake Shack by 3.4% in the second quarter. Principal Financial Group Inc. now owns 141,055 shares of the company’s stock valued at $4,920,000 after purchasing an additional 4,668 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Shake Shack by 3.0% in the first quarter. Geode Capital Management LLC now owns 119,450 shares of the company’s stock valued at $3,989,000 after purchasing an additional 3,486 shares during the last quarter. 83.94% of the stock is currently owned by institutional investors.

Shares of Shake Shack, Inc. (NYSE SHAK) opened at $38.35 on Friday. Shake Shack, Inc. has a 52 week low of $30.12 and a 52 week high of $39.70. The company has a market capitalization of $1,371.16, a price-to-earnings ratio of 66.70, a P/E/G ratio of 3.23 and a beta of 1.39.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The firm had revenue of $94.60 million for the quarter, compared to analyst estimates of $94.17 million. During the same period last year, the company earned $0.15 EPS. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. research analysts predict that Shake Shack, Inc. will post 0.52 earnings per share for the current fiscal year.

In other Shake Shack news, major shareholder Equity Group L.P. Select sold 50,630 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $36.57, for a total value of $1,851,539.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 45,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $36.27, for a total value of $1,632,150.00. Following the completion of the sale, the director now directly owns 642 shares in the company, valued at $23,285.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,630 shares of company stock worth $8,408,412. 34.91% of the stock is owned by corporate insiders.

SHAK has been the topic of several research reports. Wedbush reissued an “outperform” rating and issued a $40.00 target price (down previously from $43.00) on shares of Shake Shack in a report on Sunday, July 30th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $48.00 target price on shares of Shake Shack in a report on Thursday, October 12th. BidaskClub raised Shake Shack from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Cowen and Company upped their target price on Shake Shack from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, November 2nd. Finally, Zacks Investment Research lowered Shake Shack from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $37.58.

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Shake Shack Company Profile

Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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